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SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings

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WALLDORF, Germany, June 5, 2024 /PRNewswire/ — SAP SE (NYSE: SAP) and WalkMe Ltd. (NASDAQ: WKME) announced today that the companies have entered into a definitive agreement under which SAP will acquire WalkMe, a leader in digital adoption platforms (DAPs). WalkMe‘s solutions help organizations navigate constant technology change by providing users with advanced guidance and automation features that enable them to execute workflows seamlessly across any number of applications. This results in higher adoption of the underlying application and as such drives value realization.

The Executive and Supervisory Boards of SAP SE and the board of directors of WalkMe have approved the transaction for US $14.00 per share in an all-cash transaction, representing an equity value of approximately US $1.5 billion. The offer price represents a 45% premium to WalkMe’s closing share price on June 4, 2024.

The envisioned combination complements SAP’s Business Transformation Management portfolio around SAP Signavio and SAP LeanIX solutions to help customers on their transformation journeys.

“Applications, processes, data, and people are the four key elements of a successful business transformation,” said Christian Klein, CEO and member of the Executive Board of SAP SE. “By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments.”

WalkMe: Focus on Analyzing Adoption and Business Transformation

“We are thrilled to join forces with SAP. This acquisition marks a significant milestone in our journey, providing us with the resources and customer base necessary to enhance our product offerings and expand our market reach,” said Dan Adika, CEO of WalkMe. “By leveraging SAP’s extensive ecosystem, we are poised to unlock substantial growth opportunities and deliver even greater value to our customers. Together, we look forward to a future filled with innovation and exceptional service.“

WalkMe helps organizations boost enterprise productivity and lower risk by enabling consistent, effective and efficient use of software and the workflows it enables. Its DAP works on top of an organization’s application landscape, detects where people encounter friction and provides the tailored support and automation, they need to complete the job to be done, right in the flow of work, across any application. Importantly, WalkMe will continue to fully support non-SAP applications.

Soon, WalkMe will launch the WalkMeX copilot, which will use WalkMe‘s contextual awareness and AI to suggest the best next step for any workflow, anywhere. WalkMeX has the capability to always be on, serving as an overlay to any application, including copilots from different vendors that companies use in their landscapes. Integrating the strength of WalkMe’s adoption capabilities with SAP’s copilot Joule will boost AI assistant and productivity gains for all SAP customers. Additionally, integrating distinctive e-learning features in the SAP Enable Now solution with WalkMe will form the center of SAP’s people-centric transformation approach going forward.

The acquisition is subject to customary closing conditions, including the receipt of WalkMe shareholder approval and necessary regulatory clearances, and is expected to close in the third quarter of 2024. The impact of the transaction on SAP’s non-IFRS earnings per share for fiscal 2024 is expected to be immaterial.

About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE: SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.

About WalkMe 
WalkMe (NASDAQ: WKME), headquartered in Tel Aviv, Israel, pioneered DAP innovations and solutions so companies can effectively navigate the constant change brought on by technology. With WalkMe, organizations drive enterprise productivity and reduce risk by ensuring consistent, responsible, and efficient adoption of software and the workflows it powers. Our AI-driven platform sits on top of an organization’s tech stack, identifies where people experience friction, and delivers the personalized guidance and automation needed to get the job done, right in the flow of work. Customers like IBM, Nestle, ThermoFisher Scientific, and the U.S. Dept. of Defense trust WalkMe to create the people-centric experiences required to boost the effectiveness of their workflows and maximize software ROI.

Additional Important Information and Where to Find It
In connection with the proposed transaction, WalkMe will prepare a proxy statement to be delivered to its shareholders and furnished to the Securities and Exchange Commission (the “SEC”). INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AND OTHER RELEVANT DOCUMENTS FILED OR FURNISED TO THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN, BECAUSE THE PROXY STATEMENT AND SUCH OTHER RELEVANT DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. This press release is not a substitute for the proxy statement or any other document that may be filed or furnished by WalkMe with the SEC.

The proxy statement and other related documents filed or furnished to the SEC regarding the proposed transaction may be obtained for free from the SEC’s website (www.sec.gov), WalkMe’s website at www.walkme.com or by directing such request to WalkMe’s Investor Relations below.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. All statements other than statements of historical fact, including statements regarding the proposed acquisition of WalkMe by SAP, the expected timing for completing the proposed transaction and the terms thereof, future financial and operating results, benefits and synergies of the transaction, future opportunities for the combined businesses and any other statements regarding events or developments that may occur in the future, may be “forward-looking statements” for purposes of federal and state securities laws. These forward-looking statements involve a number of risks and uncertainties that could significantly affect the financial or operating results of SAP, WalkMe or the combined company. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “predicts,” “seeks,” “targets,” “would,” “will,” “should,” “may” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements are based on management’s expectations as of the date they are first made, are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Neither SAP nor WalkMe can give any assurances that the expectations in such forward-looking statements will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. For example, these forward-looking statements could be affected by factors including, without limitation, risks associated with the ability to consummate the proposed transaction, the satisfaction of the conditions to the consummation of the proposed transaction, including the receipt of certain regulatory approvals, and the timing of the closing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction; the potential that WalkMe shareholders may not approve the transaction; the ability to successfully integrate operations and employees; the ability to realize anticipated benefits and synergies of the proposed transaction as rapidly or to the extent anticipated by financial analysts or investors; the potential impact of the announcement of the proposed transaction on operating results, business generally and business relationships, including with employees, customers, suppliers and competitors; unanticipated restructuring costs may be incurred or undisclosed liabilities assumed; actual or threatened legal proceedings that have been or may be instituted against SAP or WalkMe in connection with the proposed transaction or otherwise; the ability and costs related to retaining key personnel and clients; risks related to diverting management’s attention from ongoing business operations; delays, challenges, costs, fees, expenses and charges related to the proposed transaction; actions by competitors; general adverse economic, political, social and security conditions in the regions and industries in which SAP and WalkMe operate, including relating to Israel’s ongoing war with Hamas and other terrorist organizations in the Middle East and general hostilities; exposure to inflation, currency rate and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of SAP and WalkMe’s traded securities; natural catastrophes, any pandemic, epidemic or outbreak of infectious disease, warfare, protests and riots, and terrorist attacks; and those additional risks and factors discussed in reports filed or furnished with the SEC by SAP and WalkMe, including SAP’s and WalkMe’s most recent Annual Reports on Form 20-F and in any subsequent reports on Form 6-K, each of which is on file with or furnished to the SEC and available at the SEC’s website at www.sec.gov. Reports filed or furnished with the SEC by SAP are also available on SAP’s website at www.sap.com/investors and by WalkMe on WalkMe’s website at www.walkme.com. Moreover, other risks and uncertainties of which SAP or WalkMe are not currently aware or may not currently consider material may also affect each of the companies’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by SAP or WalkMe on their respective websites or otherwise. Neither SAP nor WalkMe undertakes any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.

© 2024 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE and affiliated entities in Germany and other countries. Please see www.sap.com/copyright for additional trademark information and notices.

For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

Please consider our privacy policy. If you received this press release in your e-mail and you wish to unsubscribe to our mailing list please contact press@sap.com and write Unsubscribe in the subject line. 

 

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SOURCE SAP SE

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Technology

LYT ANNOUNCES DEPLOYMENT OF TRANSIT PRIORITY SOLUTIONS BY PARTNERING WITH ORANGE COUNTY TRANSPORTATION AUTHORITY (OCTA)

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43 mins ago

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September 19, 2024

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LYT.Transit Will Move Bus Transit Vehicles Through Congested Harbour Blvd. Corridor Safer and Faster

SANTA CLARA, Calif., Sept. 19, 2024 /PRNewswire/ — LYT, a leader in NextGen intelligent connected traffic technology solutions, announced today it has signed a contract with the Orange County Transportation Authority (OCTA) and the city of Fullerton for a one-year pilot program and the implementation of LYT’s leading NextGen transit priority solution (TSP), LYT.transit. 

Serving as the primary contractor for TSP under the Master Service Agreement with Arcadis, a leading global design and consultancy organization for natural and built assets, LYT.transit will help solve congestion issues for traffic signals across the busy corridor of Harbour Blvd. The Orange County TSP deployment extends LYT’s rapid expansion throughout the west coast. 

LYT’s leading transit signal priority solution, LYT.transit, moves bus transit vehicles through congested intersections faster, safer, and more intelligently. Harnessing the power of a single-edge device installed in the Traffic Management Center (TMC), bus transit vehicles speak directly to networked traffic signals through LYT’s open architecture cloud platform. This results in a consistent and reliable green light for every bus transit vehicle in the network.

Cities are realizing the distinct benefits of this technology due to LYT’s machine learning models and artificial intelligence technology that knows when to prioritize and activate a traffic signal. LYT’s system uses automotive data in an actionable way as it takes a broader traffic pattern ecosystem into account to have an impact on other surrounding signals, not just the one signal that traffic is heading toward. 

“As the Southern California region continues to thrive, it is essential to implement advanced traffic signal prioritization technology to improve the daily commutes of Orange County residents,” said Tim Menard, CEO and Founder of LYT. “Our cutting-edge AI-powered technology ensures smoother traffic flow, reduces congestion, and enhances safety on today’s roads. By prioritizing public transportation and optimizing traffic signals, we are committed to creating a more efficient and sustainable transportation network that benefits all residents and businesses throughout Orange County.” 

Gabriel Murillo, ITS and Connected Mobility Market Leader at Arcadis, said: “We are pleased to partner with LYT on LYT.transit, to help ease the impacts of traffic congestion for buses in Orange County. By harnessing the power of advanced AI and machine learning, LYT.transit is set to elevate transit efficiency, enhance safety, and contribute to a more sustainable transportation network for the residents and businesses of Orange County.” 

About LYT

LYT is the leading provider of smart cities NextGen intelligent connected traffic technologies that orchestrates today’s Intelligent Transportation Systems. LYT’s AI-powered, open architecture, machine learning technology enables a suite of transit signal priority and emergency vehicle preemption solutions that utilize pre-existing vehicle tracking sensors and city communication networks to dynamically adjust the phase and timing of traffic signals to provide sufficient green clearance time while minimally impacting cross traffic. LYT is headquartered in Silicon Valley and serves municipalities across the US and Canada. Learn more at LYT.ai.

ABOUT ARCADIS

Arcadis is the world’s leading company delivering data-driven sustainable design, engineering, and consultancy solutions for natural and built assets. We are more than 36,000 architects, data analysts, designers, engineers, project planners, water management and sustainability experts, all driven by our passion for improving quality of life. As part of our commitment to accelerating a planet positive future, we work with our clients to make sustainable project choices, combining digital and human innovation, and embracing future-focused skills across the environment, energy and water, buildings, transport, and infrastructure sectors. We operate in over 30 countries, and in 2023 reported €5.0 billion in gross revenues. www.arcadis.com

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SOURCE LYT

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Safire Group Raises $8 Million in New Financing to Deliver Lithium-ion Battery Safety Technology to Government, Automotive Markets

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43 mins ago

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September 19, 2024

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Canaan Partners Leads Round to Establish SAFIRE™ Technology as New Benchmark for Battery Safety

KNOXVILLE, Tenn., Sept. 20, 2024 /PRNewswire/ — Safire Technology Group, Inc. (“Safire Group”), today announced $8 million in new financing led by Canaan Partners, with participation from Correlation Ventures, Higher Life Ventures, Ajinomoto Co., Inc., Automotive Ventures, Outpost Ventures, Potomac Angel Capital, and MaC Venture Capital. This Pre-Series A priced round of financing brings total funding to $11 million and fuels continued development of the company’s Safe, Impact-Resistant Electrolyte (SAFIRE™) technology to transform the safety benchmarks of Lithium-ion (Li-ion) batteries across government and automotive industries. Canaan’s Hrach Simonian will join co-founders John Lee and Mike Grubbs on the board of directors.

“We are grateful to have a highly regarded, deeply experienced, and values-aligned investor in Canaan, and we are eager to continue building Safire Group together,” said Mike Grubbs.

“Safire Group is revolutionizing Li-ion battery technology with a focus on safety. Their innovative solutions are addressing the critical issue of battery volatility and setting new standards in the industry,” said Hrach Simonian, General Partner of Canaan Partners. “Safety should be intrinsic to battery design, not an afterthought. Safire Group’s commitment to redefining how these batteries are used in mobility and government applications promises to unlock unprecedented opportunities on a global scale.”

SAFIRE is the world’s only patented and proprietary drop-in additive for Li-ion batteries that prevents fires through an instantaneous liquid to solid transformation upon kinetic impact, such as an electric vehicle (EV) crash or ballistic event. During an impact, Safire Group’s shear thickening electrolyte technology enables the battery to resist deformation and prevents a short circuit – providing EV makers with lightweight crash protection and enabling Li-ion batteries to be used in novel ways.

Invented after nearly a decade of research and development by the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL), SAFIRE is currently being deployed by the company in four distinct use cases across broad domains: a ruggedized electric motorcycle, a rapidly deployable sensor tower, an unmanned ground vehicle, and multifunctional body armor.

“There is significant demand across the government to integrate SAFIRE technology into novel, ruggedized applications. This financing allows us to expand our operations in the Knoxville, Tennessee area, continue collaboration with ORNL, and further demonstrate the benefits of SAFIRE in government and automotive markets,” said John Lee, CEO of Safire Group. “We are excited about our partnership with Canaan and the opportunities it brings for the next stages of growth in deploying safety solutions for energy systems. Our focus remains on protecting people and critical assets while driving innovation in safety.”

About SAFIRE

Safire Group is a venture-backed company developing advanced Li-ion battery technologies for government and automotive markets. The company’s core technology, SAFe Impact Resistant Electrolyte (SAFIRE™), is the world’s only patented and proprietary drop-in additive for Lithium-ion (Li-ion) batteries that prevents fire through an instantaneous liquid-to-solid transformation upon kinetic impact, such as an electric vehicle (EV) crash or ballistic event. For more information, visit: www.safire.co.

Media Contact
info@safire.co

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SOURCE Safire Technology Group, Inc.

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Logistics Automation Market to Reach $55 Billion by 2030, Driven by E-Commerce and Supply Chain Transformation – LogisticsIQ

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43 mins ago

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September 19, 2024

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NEW DELHI, Sept. 19, 2024 /PRNewswire/ — According to LogisticsIQ‘s latest report (5th edition), Logistics Automation Market is expected to grow to $55 Billion by 2030, at a CAGR of 15% between 2024 and 2030. The drivers of growth are the growth in the e-commerce industry, multichannel distribution channels, digital services, increasing e-grocery penetration and dark stores, globalization of supply chain networks, emergence of autonomous mobile robots (AMRs) and increasing demand for same day / same hour delivery.

Market Trends and Key Drivers

E-Commerce Boom and Its Impact on Logistics
The exponential growth of the e-commerce industry has significantly transformed the $5 trillion global logistics industry. Online retail requires more complex logistical processes, including individual picking, packing, and shipping, which contrasts with the bulk transportation model of brick-and-mortar retail. This surge in online retail, coupled with the increasing need for faster delivery times, is putting immense pressure on logistics providers to automate.Challenges and Market Conditions (2021-2025)
In 2021, logistics automation companies had a huge order intake, however, revenue growth was constrained by supply chain disruptions. Thus, the industry entered in 2022 with a backlog of orders, which was eventually reduced by 2023 due to macroeconomic uncertainties. In 2024, order volumes began to rise again, but cautious capital expenditure from retailers slowed down investments due to inflation, low consumer spending, and geopolitical tensions. We expect order volumes expected to rebound in 2025 as retailers aim to meet increasing consumer demand.Emerging Technologies and Market Players
The past few years have seen the emergence of cutting-edge technologies like automated picking systems, mobile manipulators, and automated cold storage solutions. Significant investments in companies like Symbotic, Geek+, Fabric, and Exotec Solutions reflect this growth. At the same time, established players such as Dematic, Honeywell Intelligrated, SSI Schafer, and Toyota Advanced Logistics continue to innovate. Additionally, major retailers including Walmart, Kroger, Amazon, Ocado, and Carrefour are actively adopting these technologies to enhance their supply chain capabilities.Apart this, piece picking players such as Righthand Robotics, Nimble, Fizyr, Kindred, Covariant, OSARO, Plus One Robotics, Berkshire Grey, and AWL have established a new attractive capability for order picking in ecommerce fulfillment as picking is least automated process in existing warehouses.

Download a Free Sample of our report on the Logistics Automation Market

Industry Consolidation in Logistics Automation Market

Over the last decade, the logistics automation market has experienced significant consolidation. Traditional industry players are acquiring innovative technology leaders to stay competitive and address evolving market demands. Notable examples include:

Rockwell Automation’s acquisition of Clearpath Robotics and OTTO MotorsZebra’s acquisition of Fetch RoboticsToyota’s acquisition of Vanderlande, Bastian Solutions and ViaStoreHoneywell’s acquisition of Intelligrated and TransnormJungheinrich acquired Magazino and ArculusSSI Schafer acquired DS AutomotionABB acquired ASTI Mobile Robotics and SevensenseKPI Solutions acquired Kuecker Logistics Group, Pulse Integration, QC SoftwareKörber acquired Cohesio Group, Siemens Logistics, HighJumpTeradyne acquired MiR, Energid, AutoGuide Mobile Robots

These mergers and acquisitions reflect the ongoing shift towards automation and the integration of cutting-edge technologies across the supply chain.

Read full report on the Logistics Automation Market Size, Growth, Share, Trends, and Forecast

Key Markets and Growth Opportunities

Top Markets: The United States, China, and Germany account for more than 50% of the demand for logistics automation, with strong market penetration in Europe, particularly in Germany, Italy, France, and the Netherlands. Western Europe represents around 30% of the global market. Emerging markets in APAC, particularly in India and Southeast Asia, are also showing strong growth potential, as are regions like the Middle East and Latin America.Emerging opportunities: Latin America is still under-penetrated with regards to automation; however, things are set to change and market is set to observe a high growth in Brazil and Mexico. Within Europe, Central and Eastern Europe is a fast-growing region, with Poland and Czech Republic emerging as logistics hub and showing good growth prospects.Grocery Industry: The grocery sector is a key area for logistics automation, driven by the need for high-frequency deliveries and the growing demand for online grocery services. Grocery distributors ship high cubic volumes of merchandise to retail stores with frequent deliveries to ensure product freshness.  Grocery distribution center operations are amongst the most labour intensive of any industry. Grocery automation market is expected to reach over $7 billion by 2030.AGV and AMR Market Growth: The market for Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) is projected to experience rapid growth, with a CAGR of over 20% by 2030. AMRs, which can operate without external guidance systems like optical tape or sensors, are becoming increasingly popular due to their ease of deployment in existing warehouse infrastructures.We expect AGVs/AMRs to have more than 20% market share by 2030 in this market led by players such as Seegrid, Balyo, Hai Robotics, Geek+, GreyOrange, HikRobot, Quicktron, Locus Robotics, Fetch Robotics (Zebra), 6 River Systems (Ocado), Teradyne (MiR, AutoGuide Mobile Robots), Rocla, JBT, ek-robotics, Omron, Rockwell Automation (Clearpath Robotics, OTTO Motors). We further see more consolidation and M&A in the mobile robots space as larger System integrators look to complete their product portfolios.

Order Picking and Automation Trends

Manual vs. Automated Picking: The order picking process remains one of the most labor-intensive tasks in the warehouse, especially in e-commerce fulfillment. While manual picking is still preferred for operations with a large variety of SKUs, automated picking systems and robotic solutions are gaining traction. Technologies such as RFID, pick-to-light, and pick-to-voice systems help improve efficiency even in semi-automated environments.Piece Picking Robots: Companies such as Righthand Robotics, Berkshire Grey, Osaro, and Covariant are leading the charge in developing piece picking robots that are ideal for e-commerce fulfillment. These robots significantly reduce labor costs and increase throughput, offering a high return on investment for businesses.

Purchase the full report on the Logistics Automation Market By Technology (AGV/AMR, ASRS, Conveyors, Sortation, Order Picking, Automatic Identification and Data Capture, Palletizing & Depalletizing, Overhead Systems, MRO Services and WMS/WES/WCS), By Industry (E-commerce, General Merchandise, Grocery, Apparel, Food & Beverage, Pharma, 3PL), By Geography – Global Forecast to 2030

What will you get in this report?

500+ Pages, 290+ Exhibits and 350+ Market tables for7 major Industry Verticals (eCommerce, Grocery, General Merchandise, Apparel, Food & Beverage, 3PL, Wholesale)10 Technologies (Mobile Robots, AS/RS, Conveyors, Sortation, Order Picking, Automatic Identification and Data Capture (AIDC), Palletizing and Depalletizing Robots, Overhead systems, Software (Warehouse Management, Warehouse Execution, and Warehouse Control), and MRO services.6 regions and 28 countries (United States, Canada, United Kingdom, Germany, France, Italy, Spain, Netherlands, Nordics, China, Japan, India, Australia, Thailand, Vietnam, Singapore, Indonesia, South Korea, Malaysia, Philippines, Taiwan, Saudi Arabia, UAE, Turkey, South Africa, Argentina, Brazil, Mexico)Pivot-friendly Excel file with 350+ market tables including forecast till 2030In-depth analysis of 700 companies in the ecosystem with more than 140+ company profilesFocus Group Discussion with 100+ key industry stakeholders across the value chain to collect the first-hand information to validate our analysis2 Analyst Sessions to brainstorm furtherInvestment details with 150+ M&A and 750+ funding dealsLogisticsIQ™ Exclusive Market Map (~700 Players across 15+ categories)

About LogisticsIQ

LogisticsIQ is a dedicated market research and advisory firm in Logistics & Supply Chain sector, empowering decision makers from top fortune 1000 companies, financial and research institutions, private equity and high potential start-ups with market insights to make better decisions. We enable this by analysing the right mix of the best data, the best research methodologies, and the best industry panel to deliver value to our clients.

Media Contact
Name: Sunny M.
Email: sunny@thelogisticsiq.com
Phone: +91-952-918-4938

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